Author Archives: Charles Hugh Smith

The New Orthodoxy: Blasphemy, Heresy and the New Inquisition

When the ruling Elites sense their control of the populace is waning, they seek to regain full control via the imposition of a strict Orthodoxy, enforced by an Inquisition. We are living in just such an era. Everywhere we turn, … Continue reading

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Markets That Live by the Fed, Die by the Fed

All eyes are again on the Federal Reserve, as everyone understands that the Fed is the market— the stock market, the bond market, the art market, the housing market, etc. All markets have been driven higher by one force: central bank money … Continue reading

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The Black Swan Is a Drone

Predictably, the mainstream media is serving up heaping portions of reassurances that the drone attacks on Saudi oil facilities are no big deal and full production will resume shortly. The obvious goal is to placate global markets fearful of an … Continue reading

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How Deep Is the Rot in America’s Institutions?

When you discover rot in an apparently sound structure, the first question is: how far has the rot penetrated? If the rot has reached the foundation and turned it to mush, the structure is one wind-storm from collapse. How deep has … Continue reading

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These Are Not Signs of a Healthy Market

The implicit narrative of the latest rally in stocks is that this is just another normal rally in the ongoing 10-year long Bull market. Nice, but do these three charts look “normal” to you? Let’s take a quick glance at a … Continue reading

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